The Southern Electric Group is an un-incorporated association. When the 4Cor was purchased (in 1973), there was concern that any liabilities resulting from the 3142 could be enforced upon the individual members. Therefore, in order to protect the members’ interests a company was formed called “S.E.G. (Preservation) Limited”. The Company acquired the 4Cor, had eight shareholders (mostly former Southern Electric Group Committee members) and several directors. In January 1998 the board of S.E.G. (Preservation) Limited and the Committee of the Southern Electric Group decided to form “Southern Electric Heritage Limited” which is a private company limited by guarantee. Southern Electric Heritage Limited, which was formed on 26th January 1998, has acquired all eight shares of S.E.G. (Preservation) Limited so that S.E.G. (Preservation) Limited is a wholly owned subsidiary of Southern Electric Heritage Limited. Southern Electric Heritage Limited has taken over all the assets of S.E.G. (Preservation) Limited, namely ownership of 3142 and care of coach 11187.
Southern Electric Heritage Limited are the owners of 4Cor 3142, S.E.G. (Preservation) Limited are responsible for the day-to-day running of the unit including all of its financial affairs.
In April 2004 Southern Electric Heritage Limited was awarded Charitable status and is now registered charity 1102973. The company is registered for Gift Aid donations and this will greatly assist with fund raising for the completion of the restoration of 3142.